Alpha DNA Investment Management LLC Makes New $452,000 Investment in Dycom Industries, Inc. (NYSE:DY)

Alpha DNA Investment Management LLC purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,677 shares of the construction company's stock, valued at approximately $452,000.

A number of other hedge funds have also recently added to or reduced their stakes in DY. Allspring Global Investments Holdings LLC acquired a new position in shares of Dycom Industries during the 1st quarter worth $28,000. GAMMA Investing LLC raised its stake in Dycom Industries by 107.8% during the second quarter. GAMMA Investing LLC now owns 293 shares of the construction company's stock worth $49,000 after acquiring an additional 152 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Dycom Industries by 5,071.4% in the second quarter. SJS Investment Consulting Inc. now owns 362 shares of the construction company's stock worth $61,000 after acquiring an additional 355 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Dycom Industries by 196.7% in the 2nd quarter. Signaturefd LLC now owns 359 shares of the construction company's stock valued at $61,000 after purchasing an additional 238 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Dycom Industries during the 1st quarter valued at approximately $72,000. Institutional investors own 98.33% of the company's stock.

Insider Buying and Selling at Dycom Industries

In other news, VP Jason T. Lawson sold 856 shares of the company's stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $174.48, for a total transaction of $149,354.88. Following the transaction, the vice president now owns 6,937 shares in the company, valued at $1,210,367.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.28% of the company's stock.

Dycom Industries Trading Down 2.4 %

NYSE:DY traded down $4.67 on Thursday, reaching $191.53. 255,091 shares of the stock traded hands, compared to its average volume of 278,841. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.41. Dycom Industries, Inc. has a 1-year low of $78.42 and a 1-year high of $199.77. The company has a current ratio of 3.44, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The company's 50 day moving average is $181.31 and its 200-day moving average is $165.19.

Dycom Industries (NYSE:DY - Get Free Report) last announced its earnings results on Wednesday, August 21st. The construction company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.20. Dycom Industries had a net margin of 5.37% and a return on equity of 22.28%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm earned $2.03 earnings per share. Dycom Industries's quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Dycom Industries, Inc. will post 8.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DY has been the topic of a number of research analyst reports. KeyCorp raised their target price on shares of Dycom Industries from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. B. Riley boosted their price objective on Dycom Industries from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Bank of America increased their target price on Dycom Industries from $198.00 to $204.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price target on Dycom Industries from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Finally, StockNews.com lowered shares of Dycom Industries from a "buy" rating to a "hold" rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $199.57.

About Dycom Industries

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.